Albemarle cuts 2019 forecast on lithium price pressure
Oct 24 (Reuters) - Albemarle Corp ALB.N, the world's largest lithium producer, on Thursday cut its sales and profit forecasts for the year, hit by a continued slump in prices for the white metal.
The company now expects adjusted earnings per share in the range of $6.00 to $6.20 in the year, compared with its previous estimate of $6.25 to $6.65.
Albemarle also trimmed its 2019 net sales forecast range to $3.6 billion to $3.7 billion, from $3.65 billion to $3.85 billion.
(Reporting by Shanti S Nair in Bengaluru; Editing by Maju Samuel)
((ShantiS.Nair@thomsonreuters.com; +1 646 223 8780 Ext: 7208;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Latest Markets Videos
Explore US Markets
ExploreMost Popular
- Fed could cut rates in 2023, 2024 once inflation under control -Bullard
- US STOCKS-Wall St plunges as Snap's bleak forecast sparks selloff
- All Fed officials backed May rate hike, 'most' saw half-point rises in June and July, minutes show
- Former Fox News employee's suit accuses former anchorman of rape